November 1, 2009 Economical update. Plausable SHTF.

This guy is fairly sound in his analogy, most of what he talks about is right on the money. He has been following the market the last several months and has given some good advice. He now says that it is a plausable theory that this is the month to end all months in the meltdown. If he is right we will have a rough month ahead of us. I am not posting this to envoke fear but to inform. It may be pure hogwash but what better way to start a month out than with some possible melt down event seeing as we have several each month anyway. At least this guy is credable and simply states that he is not making a prediction just a very plausable senerio based on his knowledge of the economy.

www.youtube.com...

edit for spelling

[edit on 2-11-2009 by Melissa101]

Lots of this info starting to circualte here on ATS..interesting..we'll just have ot wait n see, unfortunaltly..only a select few im sure, know whats goin down and on. IM wondering, if this collapse* is kinda like a scheme the fed conjured up...scare people jsut enough so they panuic,and run out n buy tons of things, thiking its the end of the world, their gunna live it up now, to stockpiling* then after a month everything will re balance itself, the FED counterfiting more money off that machine they got that makes it.
I shuold say printing money, but in business and the jsut fairness of all things, counterfiting suites them best.

reply to post by Melissa101


Well, Nov. 1st is/was a sunday so nothing could collapse on that day. But CIT just declared bankruptcy today so...

he reason i say scar pople into buying things, is becuase i belive it works. I have been working in retail since i was 14..now 34. Whenever up hear in the northeast, a big storm is expected to pass through.. people whord the store shelves, at COSTCO, walmart, and big chain food stores. Ive seen it time and time again. They msotly buy toilet paper and 234 packs of water, and milk..most common things i see goin through the register. flashlights and batterys will fly IF its a hurricae like storm rolling through.

First time poster but have been lurking for a couple of years. For what it's worth, even though I don't know what the reasoning is, according to my fiance, who is a BoA employee: starting November 2nd(Today) ALL BANKS are to cease selling Travelers Checks. Also starting today BoA supposedly is suspending ALL foreign currency exchanges until further notice. I believe all other FDIC banks are supposed to be doing that as well. Thought's?

Originally posted by WatchingLibertyDie
First time poster but have been lurking for a couple of years. For what it's worth, even though I don't know what the reasoning is, according to my fiance, who is a BoA employee: starting November 2nd(Today) ALL BANKS are to cease selling Travelers Checks. Also starting today BoA supposedly is suspending ALL foreign currency exchanges until further notice. I believe all other FDIC banks are supposed to be doing that as well. Thought's?

Got a link? We've heard this stuff many many times before. Proof please.

No link unfortunately, just going by what the better half tells me. Planned on calling around today. I had googled it when she told me and nothing had came up. I really believe the exchange thing is because of the amount of soldiers that come in from the base here wanting to exchange their money into euro's with the exception of the $100 they need to keep their accounts open. Yes, no link for that either but THAT is and has been happening.

reply to post by WatchingLibertyDie


People have said in the past someone at some branch learned BofA would have a holiday, or the ATM's wouldn't work, or there would be a run on them. This comes up a lot actually. Only reason I asked for a link. I hate to say I don't believe you but without proof and the way this kind of thing has gone previously I can't really. Thanks for the info though.

Dow is rocketing up! Don't know how, but it is!

Ugh. You know, I went to the bank to withdraw some money last Friday (my dog chewed my ATM card so I had to go in), and I handed over the withdrawal slip in silence and the teller processed it in silence, but then before she would give me my money, she held it in her hand and made a speech to me about how JP Morgan Chase had paid back every penny of its stilmulus/bailout money and wasn't planning on taking more and how they were expanding services and hiring and were very stable. I loitered for a minute to see if other customers were getting the same tidbit of information, but there weren't any other customers. I found this whole experience really, really strange.

[edit on 2-11-2009 by ~Lucidity]

It may very well be a scare tactic. But the thing is that US currency is not worth much right now, I think they would be trying to obtain tangible assets right now like Gold, Silver ect.. ect... That is if the goal was to make a profit, doing this would only weaken the dollar further so why go to the trouble to collect money that is worthless or soon to be worthless. Maybe they are doing this to collapse the current curency and then introduce a new global curancy. There are endless senerios of why they are doing this but I think the point is we need to prepare for our own well being. I mean if it is a scare tactic to get everyone to stock up so what, you will be buying things you will use anyway, so you will suffer a loss. We have heard so many "predictions" here on ATS about the SHTF but with CIT filling bankrupsy, I am not sure most people realise what the impact this will have on our economy. Over 300,000 retailers in America depend on CIT for short term financing to buy their goods to stock their shelves, we have already seen cargo ships sitting around with not much cargo to ship imagine what this could do to furthur impact trade not just in the US but on a global scale.

In the last week this is what has hapened:

Obama declared a national emergency
Things in Isreal are getting heated
CIT filed bankrupsy that will affect over 300,000 retail businesses

And what can we expect in December?

Over 1 million Americans will loose their unemployment benefits and will STILL be UNABLE to find work.

A NWO treaty will be signed by Obama under the false pretense that it is an Enviornmental treaty.

So IMHO I think we should prepare for the worst and hope for the best.

[Edit spelling]

CORRECTION ! ! !

Sorry guys I made another boo boo. I need to double check myself from now on. Any who. CIT will affect over 1 million retail companies not 300,000 like I stated above.

reply to post by Melissa101


Here's the thing anything that would happen from CIT going belly up will happen in slow motion...

Those loans they made were so stores could stock up for the upcoming holidays... that merchandise is already in distribution centers waiting delivery as needed...

Where the problem comes is what happens afterwards... once that inventory is gone who will make those short term loans to restock?

there are other companies out there who do the same just not on this scale... right now they've taken over a lot of CIT's biz but there not big enough to take it all on.. so they cherry pick... only the best the cream of the crop...

just today I read where Obama said it was up to small business to step up and create new jobs... with the loss of CIT and small business loans... I don't see that happening until a replacement can be found... what I do see happening is more small to mid sized business going under because they cant secure day to day operations capital they cant live without

OKay stop the presses. Its up to small businesses to hire people? thier are no small businesses! small businesses would never be capable of hiring so many people, olike wamart, GE, swiss bank or any banks, homedepot. I work in retail for a cvs, and what ive learned is , its who you know, not what you can do...if yuor not in the cool crowd, the ones who think they own the place, yuor as good as out. and they will replace you will thier friend, even if he/she is terribe at working. that dosnt help fix job placements..mostly becuase alot or illegal immigrants, working thier. That leaves the average us citizen with NO work, so when the illegal at owrk, his frineds sneak through the borader, and settle in the area, they will have a guanranteed job. sorry, but this is what i see and have learned how it works.
wamart, vs and walgreens have made it so thier cant be much competition..they will simply buy out the land so an owner cannot open shop, or buy him outright via stock market. Sorry, but thier really arnt anymore small buisnesses around anymore....so i cannot understand why he'd say that. Unless obama himsef is not aware of how bad the big comapnys have teken over everything..or he's a part of it .

many small (under 50 employees) businesses will evaporate or get bought up...because of their long established business loan provider CIT.

Many, in relative terms, bigger businesses will also merge or be aquired...
todays B&D + Stanley deal of ~$4.5 billion is the 1st of many,=... and damm the 'monopoly' angles that disallowed these type mergers before this recent crisis situation.


Big brother in the form of a FED/Treas/regulatory agency
will allow mergers than were once prohibited, because 'They' know
how to Run Things (yeah right)


America is fast-sliding into the 'central-planning' model that had already doomed the USSR & All eastern European nations more than a decade ago
~go figure~

reply to post by DaddyBare



Daddybear,

I love your name. Soooo cute. I have a thing for bears. LOL. Any who you are right. Once the holidays are over then what?

But we also have to think will anyone have much money for holiday shopping? I mean if 1 million Americans will loose their benefits in December those 1 million people will not be spending much, not to mention those unemployed that never got benefits and are not counted in the 1 million or the ones that are working part time just to barely sustain their life, they wont be spending much. So that leaves the rest of the population who will be scared to spend and then the ones that their income will be affected by the loss of benefits like waitresses and such in the service industry because you have people that wont be renting movies, going out to eat, getting their car cleaned up, having their clothes dry cleaned ect... ect... It is a domino affect. Then after the holidays when the stores cannot pay for the inventory they bought on loan from CIT no one else is going to loan them the money so you end up with more businesses going down, more jobs lost, more homes lost. I mean I just do not see an end to it I really don't.